SAUDI Arabia has shocked the world by revealing their marine oil and gas reserves are even bigger than previously reported. How much oil does Saudi have?

Saudi Arabia has stunned the world after revealing the oil and gas supplies are higher than previously thought. The news comes after the Kingdom commissioned an outside assessment of its reserves. The independent audit not only showed the wealth of reserves held but should help assuage scepticism over the Kingdom’s oil and gas wealth. The report also shows national oil giant Saudi Aramco is taking strides towards transparency as it continues to consider a stock market debut.

Falih, the Saudi energy minister, highlighted what the audit means for Aramco’s valuation on Wednesday.

He said: “This certification underscores why every barrel we produce is the most profitable in the world, and why we believe Saudi Aramco is the world’s most valuable company and indeed the world’s most important.”